Ann: Expansion of the Colossus REE Project - Retraction Statement, page-3

Chief Executive Officer, Rafael Moreno commented:

“What a fantastic set of acquisitions for our Southern cluster of tenements. With the remarkable results we are seeing from the drilling at our Cupim South Extension, we are thrilled to have increased our landholdings in this critical part of the complex at such a low cost, while infilling the small voids within the Prospect which we previously did not own. These new concessions adjoin our existing Centro Sul and Cupim South Extension Prospects and will be seamlessly included into our mine planning. More importantly, it takes our contiguous cluster of tenements in the south to an imposing 1,732 Hectares (17.32 Km2) and could potentially support decades of high-grade production.

Having completed the bulk of the scoping study and understanding the impact our superior basket value and low OPEX flowsheet design have on project economics compared to all our peers globally makes these strategic acquisitions of this incredible ore body very valuable to the Colossus project development.”